SOCAR Turkey and Goldman Sachs will sign agreement on sale of share

SOCAR Turkey Enerji and Goldman Sachs will sign the agreement to sell 25% share in Petlim Limancilik A.S. company, which is owned by Petkim petrochemical holding, Turkish Denizhaber newspaper reported at the end of last week.

The agreement on partial privatization is expected to be signed in the coming days.

Kenan Yavuz, President SOCAR Turkey Enerji, member of Board of Petkim petrochemical holding, said earlier that part of shares of Petlim Limancilik company as a part of construction of the biggest and deepest container port in Turkey could be put up for privatization.

Yavuz said that the company has started consultations with Goldman Sachs concerning sales of part of shares of Petlim Limancilik A.S. company.

SOCAR Turkey Enerji said that 25% shares of Petlim Limancilik are expected to be put for privatization.

“We are not selling part of shares of Petlim Limancilik, because we need funds to build the deepest and biggest port in Turkey,” Yavuz said.

Yavuz said that privatization will become the most important event demonstrate confidence in the company and continuation of inflow of investments into the country.—0—

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